OKX, Korea Investment Buy Combined Stake in Coinone for $106 Million

OKX Ventures and Korea Investment & Securities have agreed to jointly acquire a combined $106 million stake in Coinone, a South Korean cryptocurrency exchange. The deal values Coinone at approximately 160 billion won ($106 million), with OKX Ventures and KIS buying a 19.6% stake each. The investment comes as regulators in South Korea are preparing a second legislative phase covering stablecoins and tokenized securities.

The acquisition combines secondary share purchases from existing holders with the issuance of new shares, allowing Coinone CEO Myung-Hun Cha to retain management control while becoming the largest shareholder alongside existing backer Com2uS Holdings. OKX Ventures said the investment reflects its focus on 'compliant, well-regulated infrastructure', and KIS plans to collaborate with Coinone on security token offerings and stablecoin-related services.

The deal is subject to regulatory approval but gives OKX Ventures direct exposure to one of Asia's most tightly regulated crypto markets. South Korea's Virtual Asset User Protection Act has imposed stricter Anti-Money Laundering and transaction-monitoring requirements on exchanges, including Coinone and Korbit. This trend has drawn several large players into the market, with Mirae Asset Consulting acquiring a 92.06% stake in Korbit for approximately $93 million in February.